Australian shares ended lower for a fifth straight session on Wednesday, pulled down by telecom and material stocks, after U.S President Donald Trump's much-awaited speech offered little clarity on his infrastructure and tax reform plans. Further, comments from US Federal Reserve policy makers that the case for tightening monetary policy has become a lot more "compelling" also weighed on the market sentiment.
The S&P/ASX 200 index closed down 0.1 percent, or 7.421 points, at 5,704.80. The benchmark posted its longest streak of losses since June 2016.
The financial index ended 0.5 percent firmer after the Australian Bureau of Statistics said GDP climbed 1.1 percent in the fourth quarter.
ASX 200 Telecommunication Services (GIC) ended 3.4 percent lower, extending fall to a fifth straight session while Australia's largest telecom company by market value, Telstra Corporation Ltd, fell 3.7 pct.
The S&P/ASX 200 materials index fell 0.3 percent, while the metals index fell 0.6 percent.
Global miners BHP Billiton and Rio Tinto ended 0.5 percent to 1 percent hurt by lower iron ore prices.
New Zealand's benchmark S&P/NZX 50 index ended 0.3 percent, or 18.680 points lower, at 7148.78, dragged down by financial and telecom shares.
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